Trends Observed in the Shifting World Population Indicate That People

question 14

Multiple Choice

Trends observed in the shifting world population indicate that people aged 65 or more will soon outnumber those aged 5 or less.Also,the world's population aged over 80 is expected to more than double by the year 2040.Which of the following is a likely implication of such population trends?

• A)decreasing demands on social entitlement programs
• B)increasing global savings rates
• C)dwindling labor supply
• D)decreasing preference for white-collar occupations

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Definitions:

Direct Materials

Raw materials that are traceable to the product and included in the direct costs of manufacturing.

Fixed Manufacturing Overhead

Represents the consistent costs associated with manufacturing that do not fluctuate with the level of production, such as rent, salaries, and equipment depreciation.

Direct Labor Cost

The wages and other compensation paid to employees who are directly involved in the production of goods or services.

Variable Costing

An accounting method that includes only variable production costs—direct materials, direct labor, and variable manufacturing overhead—in product costs, excluding fixed overhead.